Tron

The Tron Foundation develops and operates the proof-of-stake (PoS) blockchain protocol, TRON. Originally an ERC-20 protocol, Tron switched to an independent network with the launch of its mainnet in May 2018. The network leverages a 3-layer architecture and provides users with a decentralized virtual machine that can run programs via a network of public nodes. The network supports approximately 2,000 transactions per second (TPS). The protocol also offers a sidechain named “dApp chain” that uses a distributed PoS consensus to support smart contracts which can be used by developers to build dApps more quickly and for a lower cost than on the mainchain.

As of May 2024, the platform served over 229 million accounts (including client partners such as Samsung and Opera) on its blockchain. In December 2021, the network launched a community-governed DAO, which is governed by its native token TRX. In June 2022, Tron launched USDD, an algorithmic stablecoin governed by smart contracts. This led to Tron becoming the third-largest blockchain in terms of total value locked (TVL), for that month.

In March 2024, the company revealed plans to integrate Bitcoin and Bitcoin-adjacent Layer 2 solutions in three phases. The first phase was to involve the integration of Tron tokens such as TRX, USDT, JST, and SUN into the Bitcoin network and the development of wallets and tools that support a number of BRC-20 tokens. The second phase will see the company partnering with Bitcoin Layer 2 protocols to enable Tron users to participate in restaking. Finally, the company plans to create its own Bitcoin Layer 2 solution that integrates Tron, Bitcoin, and BTTC tokens.

Key customers and partnerships

In March 2024, TRON partnered with AWS, to enable developers to launch a TRON Full Node on AWS platform. The integration supports HTTP API and Grpc API for external queries, enabling developers to create and launch blockchain applications, and provide users with access to the advanced security features.